Item-specific money transfer methods and systems

ABSTRACT

The invention provides various systems and methods for implementing item-specific money transfers. The method includes receiving identification of an item, determining a vendor and a price of the item, and receiving, from a receiver, a money transfer request for an amount of the price of the item. The money transfer request identifies a sender. The method further includes sending the money transfer request to the sender, receiving, from the sender, authorization for a money transfer in an amount of the price of the item. The authorization includes an indication that funds from the money transfer are restricted for use only for the item.

This application is a divisional of U.S. patent application Ser. No.12/750,621, filed on Mar. 30, 2010, entitled “ITEM-SPECIFIC MONEYTRANSFER METHODS AND SYSTEMS”, which is hereby incorporated herein byreference.

FIELD OF THE INVENTION

The present invention relates, in general, to money transfers, and moreparticularly, to item-specific money transfers.

BACKGROUND OF THE INVENTION

Currently, the process of transferring money is complicated and notuser-friendly. There are a number of forms and processes that must becompleted prior to completing a money transfer. Furthermore, when aperson sends money to another person, he or she is often unsure ofexactly how the money has been spent, if the item is being purchased atthe best price available, and to prevent fraudulent transactions.Accordingly, improvements in the art are needed.

BRIEF SUMMARY OF THE INVENTION

The present invention provides a method for implementing item-specificmoney transfers. The method includes receiving, by a money transferprocessing system, identification of an item, determining, by the moneytransfer processing system, a vendor and a price of the item, receiving,by the money transfer processing system, from a receiver, a moneytransfer request for an amount of the price of the item. The moneytransfer request identifies a sender. The method further includessending, by the money transfer processing system, the money transferrequest to the sender, and receiving, by the money transfer processingsystem, from the sender, authorization for a money transfer in an amountof the price of the item. The authorization includes an indication thatfunds from the money transfer are restricted for use only for the item.Further, the method includes pre-staging, by the money transferprocessing system, the money transfer, binding, by the money transferprocessing system, the funds of the money transfer to only be availablefor payment to the vendor for the item, and sending, by the moneytransfer processing system, to the vender of the item, the moneytransfer for payment of the item.

A further embodiment of the present invention provides for a method ofgenerating an item-specific money transfer identifier. The methodincludes receiving, by a money transfer system, from a first sender of aplurality of senders, identification of an item for purchase, ageographical location of the item, and a money transfer request for anamount of the item. The method further includes pre-staging, by themoney transfer system, a money transfer for the amount of the item, andgenerating, by the money transfer system, an identifier for the moneytransfer. The identifier comprises an item identifier identifying theitem, a location identifier identifying the geographical location, and afirst funding identifier. The method further includes securely sendingthe identifier to a receiver, receiving, by the money transfer system,from the receiver, the identifier, and in response to receiving theidentifier from the receiver, providing the receiver with funds from themoney transfer.

A further embodiment of the present invention provides for amachine-readable medium for implementing item-specific money transfers.The machine-readable medium includes instructions for receiving, by amoney transfer processing system, identification of an item,determining, by the money transfer processing system, a vendor and aprice of the item, receiving, by the money transfer processing system,from a receiver, a money transfer request for an amount of the price ofthe item. The money transfer request identifies a sender. Themachine-readable medium further includes instructions for sending, bythe money transfer processing system, the money transfer request to thesender, and receiving, by the money transfer processing system, from thesender, authorization for a money transfer in an amount of the price ofthe item. The authorization includes an indication that funds from themoney transfer are restricted for use only for the item. Further, themachine-readable medium includes instructions for pre-staging, by themoney transfer processing system, the money transfer, binding, by themoney transfer processing system, the funds of the money transfer toonly be available for payment to the vendor for the item, and sending,by the money transfer processing system, to the vender of the item, themoney transfer for payment of the item.

BRIEF DESCRIPTION OF THE DRAWINGS

A further understanding of the nature and advantages of the presentinvention may be realized by reference to the remaining portions of thespecification and the drawings wherein like reference numerals are usedthroughout the several drawings to refer to similar components. In someinstances, a sublabel is associated with a reference numeral to denoteone of multiple similar components. When reference is made to areference numeral without specification to an existing sublabel, it isintended to refer to all such multiple similar components.

FIG. 1 is a flow diagram illustrating a method of implementingitem-specific money transfers, according to one embodiment of thepresent invention.

FIG. 2 is a flow diagram illustrating a method of implementingitem-specific money transfers and comparative shopping, according to oneembodiment of the present invention.

FIG. 3 is a flow diagram illustrating a method of implementing moneytransfers for specific items for charitable donations, according to oneembodiment of the present invention.

FIG. 4 is a flow diagram illustrating a method of implementingitem-specific and location-specific PIN generation, according to oneembodiment of the present invention.

FIG. 5 is a block diagram illustrating a system for implementingitem-specific money transfers, according to one embodiment of thepresent invention.

FIG. 6 is a block diagram illustrating a system for implementingitem-specific money transfers and comparative shopping, according to oneembodiment of the present invention.

FIG. 7 is a generalized schematic diagram illustrating a computersystem, in accordance with various embodiments of the invention.

FIG. 8 is a block diagram illustrating a networked system of computers,which can be used in accordance with various embodiments of theinvention.

DETAILED DESCRIPTION OF THE INVENTION

Aspects of the present invention relate to senders being able to becertain of how a receiver uses funds transferred to the receiver fromthe sender, to a biller from a sender, etc. If the receiver, forexample, has a problem spending the money on the intended item, it couldbe difficult to know if the receiver actually used the money that he orshe received in the way it was intended. As such, embodiments of thisinvention would allow the receiver to send a short message service (SMS)or an email of a picture of the item he or she purchased or proof ofpurchase (e.g., a money order for rent or a receipt for an appliance,etc.), or desires to purchase.

In one embodiment, the sender may send a money transfer along with anSMS or email that specifies what the money was to be used for. Themessage would be sent to the receiver and reminders would continue to besent the receiver until proof of purchase has been sent to the sender.Once the receiver has made the purchase, he or she could then take aphoto of the item purchased and send the photo in a message.Accordingly, the sender knows that the money was used to purchase theintended item.

Further aspects of the present invention allow for the sender to bind amoney transfer to a specific item, such that the money could not be usedfor any purpose other than to purchase the bound item. Furthermore,aspects of the present invention may provide comparison shopping for thespecific item in conjunction with the money transfer.

Turning now to FIG. 1, a flow diagram which illustrates a method 100 ofimplementing item-specific money transfers. At process block 105,identification (or selection) of an item or items may be received at amoney transfer (or other) processing system. Multiple items may beidentified/selected (e.g., a grocery list) for a single money transferearmarked for multiple items. The selected item may be, for example, aconsumer good, a charitable donation, a service, or the like. Theselection of the item may be made through a mobile device, a webinterface, at a kiosk, at an agent location of the money transferprocessor, etc. In one embodiment, the item may be identified by takinga photograph of the item and providing the photograph to a recognitionprogram used to identify the item. Alternatively, an identifier for theitem may be scanned (e.g., by barcode, RFID, near-field communication,etc.) in order for the item to be identified. In one embodiment,near-field communication (NFC) may by a short-range high frequencywireless communication technology which enables the exchange of databetween devices over approximately a 10 centimeter (i.e., around 4inches) distance. Further, the identification for the item may beentered into an interface. In one embodiment, if, for example, thephotograph of the item fails to identify a specific item, thencomparable items may instead be presented to the user.

At process block 110, price comparisons may be provided for the itemfrom one or more vendors. For example, a user may initially select arefrigerator made by vendor X, based on the identifier for therefrigerator (e.g., the universal pricing code (UPC), InternationalStandard Book Number (ISBN), European Article Number (EAN), etc.) and asearch of vendors selling the same refrigerator with the same identifiermay be conducted. A vendor may pay a fee to be included in the searchresults and/or for placement (e.g., first shown) in the search results.The results of the search, including, for example, the vendor (sometimesreferred to as the merchant), the price, etc. may then be displayed tothe user and/or to the sender.

In one embodiment, multiple users and/or persons, from which the usermay request funding for the items, may have access to the comparisondisplay of items. As such, at process block 115, feedback and/orsuggestions from the users and potential funders may be receivedregarding the items displayed. Further, the users and potential fundersmay also be able to provide additional possible vendors and/or itemswhich were not found in the search. As such, the users and funders havecontrol and input in the decision making process as to which item(s) tobe selected from which vendor(s). Accordingly, the desired item(s) maybe selected (process block 120). For example, if a college student isasking his or her parent to fund a laptop computer, the student may takea picture of the laptop he or she desires and through an interface(e.g., a web interface), the parent and the student can compare the sameand/or different laptops from various vendors until a laptop is agreedupon.

Accordingly, at process block 125, a money transfer request accompaniedby identification of the selected item may be sent to the money transferprocessing system and then to one or more money transfer senders and/orfunders. In other words, the receiver may request that one or morefunders send money to fund the selected item. In response to one or moreof the funders accepting the money transfer request and initiating amoney transfer to fund at least a portion of the selected item, one ormore money transfers may be pre-staged for full or partial payment ofthe selected item (process block 130). Further, the one or more fundersmay accept a portion of a money transfer request to fund multiple items(e.g., a parent may fund the purchase of bread and milk from a grocerystore list, but not fund cigarettes).

Furthermore, the pre-staged money transfer may be bound (or restrictedfor use) only to purchase the selected item (process block 135) oravailable to purchase any item except a restricted item. For example, ifthe receiver were to receive the funds from the money transfer withoutany restriction, the receiver may have indicated to the funder that thefunds were going to be used to purchase the selected item; however, oncethe funds have been received by the receiver, there would not be amechanism to ensure that the funds were actually used to purchase theselected item. For example, the receiver may have a gambling problem,and in the past has used funds from money transfers to gamble as opposedto purchase a needed item. Therefore, in one embodiment, the pre-stagedmoney transfer may be bound to the selected item such that the funds canonly be used to purchase the selected item or to purchase any item otherthan a restricted item.

For example, the funds from the money transfer may be bound by theitem's UPC or the like, or the funds may be transferred directly to thevendor of the selected item, and can only be used to purchase theselected item from the specified vendor. Furthermore, a returnrestriction may be placed on the item. For example, the receiver may berestricted from simply purchasing the item and then returning the itemfor a refund or store credit. Instead, the receiver may only be allowedto exchange the item for the same or a similar item or send the fundsback to the funder (or sender). A fee may apply to sending funds back tothe funder (or sender). Accordingly, the funder (or sender) can besatisfied that the funds are used for the selected item.

At process block 140, the item may be purchased using the funds from themoney transfer. Furthermore, the funds may be sent directly to thevendor, may be placed on a stored value card, gift card, etc. The fundsmay also be placed on a voucher or the like. In an alternativeembodiment, FIG. 2 illustrates a method 200 of implementingitem-specific money transfers with comparative/collaborative shopping.At process block 205, the item (or items) for purchase may beidentified. At process block 210, price comparisons for the selecteditem may be received. These comparison prices may be specific to avendor, location, etc. For example, vendor A may provide the item at afirst price and vendor B may provide the item at a second price.Alternatively, vendor A may provide the item at a first price at a firstlocation, and a second price at a second location, and so forth. Assuch, the lowest price for an item may ultimately depend on the vendorand/or the location.

Furthermore, comparable (or similar) items may be presented. Forexample, other brands or other models of the same item may be presented,or substitute items may be presented (e.g., lemon for salt, margarinefor butter, natural gas for petroleum, etc.). As such, the customer maybe able to compare prices by item type, in order to get the best price.Accordingly, at process block 215, a vendor and an accompanying locationmay be selected. It should be noted that the “location” may be on-lineor virtual, as opposed to a physical store location. During thiscomparative/collaborative shopping process, not only the customer who isrequesting funds, but the sender(s) of the funds can be involved in thedecision making process. The sender(s) may also be the only one(s)involved in the process. One or more merchants/organizations may also beinvolved. For example, merchant(s) may be willing to negotiate a pricefor the item(s) or substitute(s) (e.g., competitive bidding). Likewise,organizations, like charities, may be willing to negotiate on whichcause(s) may be benefited by a donation and/or the percent or amountthat will go to the benefit of the cause(s).

For example, the receiver may be in Mexico and the sender may be inColorado. The receiver may be requesting from the sender money topurchase a refrigerator. The receiver may have identified a refrigeratorin Mexico at a first price, and sends the sender a request for theamount of the identified refrigerator; however, the sender may havelocated a better price for the refrigerator in Colorado (even with theadded shipping costs). Therefore, the sender could suggest (or require)that the money be used to purchase the refrigerator in Colorado asopposed the refrigerator in Mexico. Similarly, the sender may have founda better price elsewhere in Mexico (e.g., another city, merchant and/orlocation).

Furthermore, once the item, vendor, and location have been determined, amoney transfer may be pre-staged (process block 220). In one embodiment,the money transfer may be restricted for use only to purchase theselected item(s). A further restriction may be included which does notallow the item(s) to be returned for universal store credit or cash. Forexample, if the item is returned, then the funds may revert back to thesender. The sender may be notified (e.g., by SMS text message, e-mail,telephone call, etc.) of the return so he/she can pick up the revertedfunds at a location or the funds may be credited to an account of thesender or returned by negotiable instrument. Alternatively, the item mayonly be able to be exchanged, or the funds may only be able to be usedin the same department as the item. Accordingly, the sender can beassured that the funds are properly used for their intended purpose.Hence, at process block 225, the pre-staged money transfer may be usedto purchase the selected item. A pre-staged money transfer may involvegenerating a password, PIN, and/or transaction umber (e.g., by thesender, receiver, merchant, organization, host computer, point of saledevice, etc.) for use by the receiver to purchase the item(s). Thepassword, PIN, and/or transaction number each may be determined, inpart, by one or more of the sender, receiver, merchant, organization,host computer, point of sale device, etc., or may be determined, inwhole or in part, by an identifier associated with the item(s) (e.g.,VPC).

Referring next to FIG. 3, which illustrates a method 300 of implementingmoney transfers for specific items for charitable donations. At processblock 305, a charitable item may be identified. For example, acharitable organization may identify a large number of items (e.g., 1000bottles of water) for relief in a disaster area. In order to purchasethe item(s) the charitable organization may need a number of smallerdonations from a number of different senders. Accordingly, fundingrequests may be generated and sent out to a number of potential senders(process block 310) (e.g., by text message, e-mail, telephone call,direct mail, advertisements, etc.).

At process block 315, in response to the funding requests, pre-stagedmoney transfers from donors may be received to pay for the item(s).These pre-staged money transfers may be for any portion of the totalamount, and also may include a restriction which indicates that thefunds are only to be used for the specified charitable item(s) or othercharitable purposes. As such, at process block 320, the money transfersmay be bound to the item(s) and/or purposes, so that the funds would notbe available unless they were used to purchase the charitable itemsand/or used for such purposes. Also, a cash refund for the charitableitems could be prohibited.

At process block 325, the item(s) may be purchased using the pre-stagedmoney transfers. Furthermore, a charitable contribution tax statement(or similar document) may be sent to the donors (process block 330).Alternatively, the information may be directly downloaded into a tax andfinancial tracking software system.

Turning next to FIG. 4, which illustrates a method 400 of implementingitem and/or location specific PIN generation. At process block 405, anitem to be purchased may be identified. The identification process mayoccur in a same or similar way of that of FIGS. 1-3. Furthermore, anitem identifier (e.g., a barcode, a UPC, etc.) may be associated withthe item. At process block 410, the location of the item may beidentified. This may be the physical location of the item, the physicallocation of the vendor selling the item, a virtual or web-basedlocation, etc.

At process block 415, one or more funding sources may be identified. Forexample, money transfer, mobile wallet(s), bank account(s), creditcard(s), debit card(s), gift card(s), cash, investment account(s),check(s), money order(s), etc. may be identified for use in payment forthe item. There may be many payments and payment types from many sourcesused to pay for the item. In one embodiment, using the item identifier,an identifier for the location, and identifiers for the funding sources,a three-part PIN, password, or transaction identifier may be generated(process block 420). The PIN, password, or transaction identifier mayalso be one- or two-part based on the criteria above.

In one embodiment, the receiver's location may be tracked and adetermination may be made whether the location identifier and thereceiver's location match. Tracking the receiver's location may be donewhere the PIN is used and/or by GPS. For example, if the locationidentifier was for Denver, Colo., and when the receiver attempted to usethe PIN he or she was in Sacramento, Calif., the receiver would bedenied the funds, and an alert may be generated. Alternatively, thelocation identifier may restrict purchase of the item to a vendorlocation or general location. At process block 425, the PIN and/orreceiver's location may be securely transmitted to a money transferentity for fund retrieval. For example, the location identifier may beused to prevent fraudulent transactions. If the owner of the PIN isscheduled to be at location A and the funds associated with the PIN areattempted to be used at location B, a hold or alarm may be generated.Additionally, biometric information (fingerprint, retinal scan, etc.) orfacial recognition information may be used in conjunction with thelocation information. For example, not only does the location of the PINholder need to match the location identifier, but also biometricinformation from the PIN holder must match the rightful owner of thePIN.

Prior to the funds being disbursed to the receiver and/orvendor/merchant, a biometric scan, current location information, and thePIN may be transmitted to the money transfer entity. The transmissionmay be a near-field or similar transmission. Alternatively or inaddition, after the PIN has been transmitted, the receiver may berequired to photograph himself or herself and transmit the picture tothe money transfer entity within a certain time after the transmissionof the PIN, in order to verify the receiver's identity. He or she mayalso be required to be holding the purchased item in the photograph,which may then be sent to the sender. Alternatively or in addition, thereceiver may also be required to photograph a bar code and/or UPC on theitem and/or photograph the receipt and/or bar code on the receipt.

Furthermore, the item identifier may be configured to indicate that thefunds associated with the PIN are to be restricted for use only forpurchasing the item identified by the item identifier. Also, the PINprovides for the ability to tie multiple funding sources to the sameitem. For example, a receiver may have three relatives each contributingto the cost of the item, and so all three funding source identifiers maybe associated with the PIN. As such, at process block 430, the fund(s)associated with the PIN may then be used to purchase the item identifiedby the item identifier.

FIG. 5 illustrates a system 500 for implementing item-specific moneytransfers. In one embodiment, system 500 may include money transferprocessor 505. In one embodiment, money transfer processor 505 may beconfigured to implement the methods described in FIGS. 1-4. System 500may further include senders 1-N 510, 511, and 512, and receivers 1-N515, 516, and 517. Accordingly, any number of receivers may be sentfunds from any number of senders. Further, senders 510, 511, and 512 maybe involved in the item determination and fund binding process, as wellas receivers 515, 516, and 516 and/or merchants/organizations.Therefore, any number of senders, receivers, and/ormerchants/organizations may be involved in the collaborative shoppingaspect of the present invention. Furthermore, money transfer processor505 is configured to facilitate the generation of the money transfers aswell as the presentation of information used for the collaborativeshopping.

Referring next to FIG. 6, which illustrates a system 600 forimplementing item-specific money transfers and comparative shopping,according to a further embodiment of the present invention. In oneembodiment, system 600 may additionally include an interface 610.Interface 610 may be, for example, a web interface, a kiosk, apoint-of-sale (POS), etc. Interface 610 may be configured to provide adisplay and/or input for displaying and selecting items.

System 600 may further include comparing engine 615 in communicationwith interface 610. Comparing engine 615 may further be in communicationwith vendors 1-N 620, 621, 622. As such, comparing engine 610 may beconfigured to receive an item selection or identification from interface610 and then access vendors 620, 621, and 622 to receive price andlocation comparisons from the vendors, as well as alternative items.Accordingly, the comparative shopping between sender(s) 510, receiver(s)515 and/or merchants/organizations may be completed (see FIGS. 1-3).

FIG. 7 provides a schematic illustration of one embodiment of a computersystem 700 that can perform the methods of the invention, as describedherein, and/or can function as, for example, money transfer processor505 (FIGS. 5 and 6), comparing engine 615 (FIG. 6), etc. It should benoted that FIG. 7 is meant only to provide a generalized illustration ofvarious components, any or all of which may be utilized as appropriate.FIG. 7, therefore, broadly illustrates how individual system elementsmay be implemented in a relatively separated or relatively moreintegrated manner.

The computer system 700 is shown comprising hardware elements that canbe electrically coupled via a bus 705 (or may otherwise be incommunication, as appropriate). The hardware elements can include one ormore processors 710, including, without limitation, one or more generalpurpose processors and/or one or more special purpose processors (suchas digital signal processing chips, graphics acceleration chips, and/orthe like); one or more input devices 715, which can include, withoutlimitation, a mouse, a numeric keypad, a keyboard, a touch screen,and/or the like; and one or more output devices 720, which can include,without limitation, a display device, a printer, a sound card and/or thelike.

The computer system 700 may further include (and/or be in communicationwith) one or more storage devices 725, which can comprise, withoutlimitation, local and/or network accessible storage and/or can include,without limitation, a disk drive, a drive array, an optical storagedevice, a solid-state storage device, such as a random access memory(“RAM”) and/or a read-only memory (“ROM”), which can be programmable,flash-updateable and/or the like. The computer system 700 might alsoinclude a communications subsystem 730, which can include withoutlimitation a modem, a network card (wireless or wired), an infra-redcommunication device, a wireless communication device and/or chipset(such as a Bluetooth™ device, an 802.11 device, a WiFi device, a WiMaxdevice, cellular communication facilities, mesh network, etc.), and/orthe like. The device may be a web-enabled Smartphone, or the like. Thecommunications subsystem 730 may permit data to be exchanged with anetwork (such as the network described below, to name one example),and/or any other devices described herein. In many embodiments, thecomputer system 700 will further comprise a working memory 735, whichcan include a RAM or ROM device, as described above.

The computer system 700 can also comprise software elements, shown asbeing currently located within the working memory 735, including anoperating system 740 and/or other code, such as one or more applicationprograms 745 or Application Programming Interfaces (APIs), which maycomprise computer programs of the invention, and/or may be designed toimplement methods of the invention and/or configure systems of theinvention, as described herein. Merely by way of example, one or moreprocedures described with respect to the method(s) discussed above mightbe implemented as code and/or instructions executable by a computer(and/or a processor within a computer). A set of these instructionsand/or code might be stored on a computer-readable storage medium, suchas the storage device(s) 725 described above. In some cases, the storagemedium might be incorporated within a computer system, such as thesystem 700. In other embodiments, the storage medium might be separatefrom a computer system (e.g., a removable medium, such as a compactdisc, etc.), and/or provided in an installation package, such that thestorage medium can be used to program a general purpose computer withthe instructions/code stored thereon. These instructions might take theform of executable code, which is executable by the computer system 700and/or might take the form of source and/or installable code, which,upon compilation and/or installation on the computer system 700 (e.g.,using any of a variety of generally available compilers, installationprograms, compression/decompression utilities, etc.), then takes theform of executable code.

It will be apparent to those skilled in the art that substantialvariations may be made in accordance with specific requirements. Forexample, customized hardware might also be used, and/or particularelements might be implemented in hardware, software (including portablesoftware, such as applets, etc.), or both. Further, connection withother computing devices such as network input/output devices may beemployed.

In one aspect, the invention employs a computer system (such as thecomputer system 700) to perform methods of the invention. According to aset of embodiments, some or all of the procedures of such methods areperformed by the computer system 700 in response to processor 710executing one or more sequences of one or more instructions (which mightbe incorporated into the operating system 740 and/or other code, such asan application program 745) contained in the working memory 735. Suchinstructions may be read into the working memory 735 from anothermachine-readable medium, such as one or more of the storage device(s)725. Merely by way of example, execution of the sequences ofinstructions contained in the working memory 735 might cause theprocessor(s) 710 to perform one or more procedures of the methodsdescribed herein.

The terms “machine-readable medium” and “computer-readable medium”, asused herein, refer to any medium that participates in providing datathat causes a machine to operate in a specific fashion. In an embodimentimplemented using the computer system 700, various machine-readablemedia might be involved in providing instructions/code to processor(s)710 for execution and/or might be used to store and/or carry suchinstructions/code (e.g., as signals). In many implementations, acomputer-readable medium is a physical and/or tangible storage medium.Such a medium may take many forms, including but not limited to,non-volatile media, volatile media, and transmission media. Non-volatilemedia includes, for example, optical or magnetic disks, such as thestorage device(s) 725. Volatile media includes, without limitation,dynamic memory, such as the working memory 735. Transmission mediaincludes coaxial cables, copper wire and fiber optics, including thewires that comprise the bus 705, as well as the various components ofthe communication subsystem 730 (and/or the media by which thecommunications subsystem 730 provides communication with other devices).Hence, transmission media can also take the form of waves (includingwithout limitation radio, acoustic and/or light waves, such as thosegenerated during radio-wave and infra-red data communications).

Common forms of physical and/or tangible computer-readable mediainclude, for example, a floppy disk, a flexible disk, hard disk,magnetic tape, or any other magnetic medium, a CD-ROM, any other opticalmedium, punchcards, papertape, any other physical medium with patternsof holes, a RAM, a PROM, an EPROM, a FLASH-EPROM, any other memory chipor cartridge, a carrier wave as described hereinafter, or any othermedium from which a computer can read instructions and/or code.

Various forms of machine-readable media may be involved in carrying oneor more sequences of one or more instructions to the processor(s) 710for execution. Merely by way of example, the instructions may initiallybe carried on a magnetic disk and/or optical disc of a remote computer.A remote computer might load the instructions into its dynamic memoryand send the instructions as signals over a transmission medium to bereceived and/or executed by the computer system 700. These signals,which might be in the form of electromagnetic signals, acoustic signals,optical signals and/or the like, are all examples of carrier waves onwhich instructions can be encoded, in accordance with variousembodiments of the invention.

The communications subsystem 730 (and/or components thereof) generallywill receive the signals, and the bus 705 then might carry the signals(and/or the data, instructions, etc., carried by the signals) to theworking memory 735, from which the processor(s) 705 retrieves andexecutes the instructions. The instructions received by the workingmemory 735 may optionally be stored on a storage device 725 eitherbefore or after execution by the processor(s) 710.

A set of embodiments comprises systems for implementing item-specificmoney transfers. Merely by way of example, FIG. 8 illustrates aschematic diagram of a system 800 that can be used in accordance withone set of embodiments. The system 800 can include one or more usercomputers 805. The user computers 805 can be general purpose personalcomputers (including, merely by way of example, personal computersand/or laptop computers running any appropriate flavor of MicrosoftCorp.'s Windows™ (e.g., Vista™) and/or Apple Corp.'s Macintosh™operating systems) and/or workstation computers running any of a varietyof commercially available UNIX™ or UNIX-like operating systems. Theseuser computers 805 can also have any of a variety of applications,including one or more applications configured to perform methods of theinvention, as well as one or more office applications, database clientand/or server applications, and/or web browser applications.Alternatively, the user computers 805 can be any other electronicdevice, such as a thin-client computer, cellular telephone,Internet-enabled mobile telephone, and/or personal digital assistant(PDA), capable of communicating via a network (e.g., the network 810described below) and/or displaying and/or navigating web pages or othertypes of electronic documents. Although the exemplary system 800 isshown with three user computers 805, any number of user computers can besupported.

Certain embodiments of the invention may operate in a networkedenvironment, which can include a network 810. The network 810 can be anytype of network familiar to those skilled in the art that can supportdata communications using any of a variety of commercially availableprotocols, including without limitation TCP/IP, SNA, IPX, AppleTalk, andthe like. Merely by way of example, the network 810 can be a local areanetwork (“LAN”), including without limitation an Ethernet network, aToken-Ring network and/or the like; a wide-area network (WAN); a virtualnetwork, including without limitation a virtual private network (“VPN”);the Internet; an intranet; an extranet; a public switched telephonenetwork (“PSTN”); an infra-red network; a wireless network, includingwithout limitation a network operating under any of the IEEE 802.11suite of protocols, mesh network, Code Division Multiple Access (CDMA),Time Division Multiple Access (TDMA), Global System for Mobilecommunications (GSM), General Packet Radio Service (GPRS), theBluetooth™ protocol known in the art, and/or any other wirelessprotocol; and/or any combination of these and/or other networks.

Embodiments of the invention can include one or more server computers815 or mainframe computers. Each of the server computers 815 may beconfigured with an operating system, including without limitation any ofthose discussed above, as well as any commercially (or freely) availableserver operating systems. Each of the servers 815 may also be runningone or more applications, which can be configured to provide services toone or more clients 805 and/or other servers 815.

Merely by way of example, one of the servers 815 may be a web server,which can be used, merely by way of example, to process requests for webpages or other electronic documents from user computers 805. The webserver can also run a variety of server applications, including HTTPservers, FTP servers, CGI servers, database servers, Java™ servers, andthe like. In some embodiments of the invention, the web server may beconfigured to serve web pages that can be operated within a web browseron one or more of the user computers 805 to perform methods of theinvention.

The server computers 815, in some embodiments, might include one or moreapplication servers, which can include one or more applicationsaccessible by a client running on one or more of the client computers805 and/or other servers 815. Merely by way of example, the server(s)815 can be one or more general purpose computers capable of executingprograms or scripts in response to the user computers 805 and/or otherservers 815, including without limitation web applications (which might,in some cases, be configured to perform methods of the invention).Merely by way of example, a web application can be implemented as one ormore scripts or programs written in any suitable programming language,such as Java™, C, C#™ or C++, and/or any scripting language, such asPerl, Python, or TCL, as well as combinations of anyprogramming/scripting languages. The application server(s) can alsoinclude database servers, including without limitation thosecommercially available from Oracle™, Microsoft™, Sybase™, IBM™ and thelike, which can process requests from clients (including, depending onthe configuration, database clients, API clients, web browsers, etc.)running on a user computer 805 and/or another server 815. In someembodiments, an application server can create web pages dynamically fordisplaying the information in accordance with embodiments of theinvention, such as interface 610 (FIG. 6). Data provided by anapplication server may be formatted as web pages (comprising HTML,Javascript, WML, etc., for example) and/or may be forwarded to a usercomputer 805 via a web server (as described above, for example).Similarly, a web server might receive web page requests and/or inputdata from a user computer 805 and/or forward the web page requestsand/or input data to an application server. In some cases, a web servermay be integrated with an application server.

In accordance with further embodiments, one or more servers 815 canfunction as a file server and/or can include one or more of the files(e.g., application code, data files, etc.) necessary to implementmethods of the invention incorporated by an application running on auser computer 805 and/or another server 815. Alternatively, as thoseskilled in the art will appreciate, a file server can include allnecessary files, allowing such an application to be invoked remotely bya user computer 805 and/or server 815. It should be noted that thefunctions described with respect to various servers herein (e.g.,application server, database server, web server, file server, etc.) canbe performed by a single server or mainframe computer and/or a pluralityof specialized servers or mainframe computers, depending onimplementation-specific needs and parameters.

In certain embodiments, the system can include one or more databases820. The location of the database(s) 820 is discretionary: merely by wayof example, a database 820 a might reside on a storage medium local to(and/or resident in) a server 815 a (and/or a user computer 805).Alternatively, a database 820 b can be remote from any or all of thecomputers 805, 815, so long as the database can be in communication(e.g., via the network 810) with one or more of these. In a particularset of embodiments, a database 820 can reside in a storage-area network(“SAN”) familiar to those skilled in the art. (Likewise, any necessaryfiles for performing the functions attributed to the computers 805, 815can be stored locally on the respective computer and/or remotely, asappropriate.) In one set of embodiments, the database 820 can be arelational database, such as an Oracle™ database, that is adapted tostore, update, and retrieve data in response to SQL-formatted commands.The database might be controlled and/or maintained by a database server,as described above, for example.

In a further embodiment, a transaction system which includes a loyaltyhost to administer the loyalty programs may be provided. In someinstances, the loyalty host may be a component of the one or moremachines included in the transaction system performing other functions.Alternatively, the loyalty host may be a standalone system receivingtransaction details from another component of the transaction system.The loyalty host may be used to automatically enroll customers in aloyalty program. Loyalty systems and methods are more fully described inUniversal Loyalty Systems and Methods, U.S. patent application Ser. No.12/190,348, filed on Aug. 12, 2008, and Money Transfer Convenience Card,Systems and Methods, U.S. patent application Ser. No. 10/687,575, filedon Oct. 15, 2003, the complete disclosures of which are herebyincorporated by reference.

In one embodiment, an agent may offer services to perform money transfertransactions. The customer may initiate a money transfer transaction bywalking into an agent location and providing details of the moneytransfer transaction to an agent clerk. Money transfer transactiondetails may include recipient information, money transfer amount, and/orinformation about the customer (sender), such as a telephone number. Theagent clerk may enter the details into a POS device. When all thedetails have been entered, the POS device may transmit the transactioninformation to a transaction host for processing. Alternatively, thecustomer may stage or initiate a money transfer transaction at a kioskor other user input device. The customer may also stage or initiate amoney transfer transaction over the telephone of the Internet

While the invention has been described with respect to exemplaryembodiments, one skilled in the art will recognize that numerousmodifications are possible. For example, the methods and processesdescribed herein may be implemented using hardware components, softwarecomponents, and/or any combination thereof. Further, while variousmethods and processes described herein may be described with respect toparticular structural and/or functional components for ease ofdescription, methods of the invention are not limited to any particularstructural and/or functional architecture but instead can be implementedon any suitable hardware, firmware and/or software configuration.Similarly, while various functionality is ascribed to certain systemcomponents, unless the context dictates otherwise, this functionalitycan be distributed among various other system components in accordancewith different embodiments of the invention.

Moreover, while the procedures comprised in the methods and processesdescribed herein are described in a particular order for ease ofdescription, unless the context dictates otherwise, various proceduresmay be reordered, added, and/or omitted in accordance with variousembodiments of the invention. Moreover, the procedures described withrespect to one method or process may be incorporated within otherdescribed methods or processes; likewise, system components describedaccording to a particular structural architecture and/or with respect toone system may be organized in alternative structural architecturesand/or incorporated within other described systems. Hence, while variousembodiments are described with—or without—certain features for ease ofdescription and to illustrate exemplary features, the various componentsand/or features described herein with respect to a particular embodimentcan be substituted, added and/or subtracted from among other describedembodiments, unless the context dictates otherwise. Consequently,although the invention has been described with respect to exemplaryembodiments, it will be appreciated that the invention is intended tocover all modifications and equivalents within the scope of thefollowing claims.

What is claimed is:
 1. A method of generating an item-specific moneytransfer identifier, the method comprising: receiving, by a moneytransfer system, from a first sender, identification of an item or asubstitute for the item for purchase, a geographical location of theitem or a substitute for the item, and a money transfer request for anamount of the item or a substitute for the item; pre-staging, by themoney transfer system, a money transfer for the amount of the item or asubstitute for the item; generating, by the money transfer system, anidentifier for the money transfer, wherein the identifier comprises atleast one of an item identifier identifying the item or a substitute forthe item, a location identifier identifying the geographical location,and a first funding identifier; securely sending the identifier to areceiver; receiving, by the money transfer system, from the receiver theidentifier; and in response to receiving the identifier from thereceiver, providing the receiver with funds from the money transfer. 2.The method of generating an item-specific money transfer identifier asin claim 1, further comprising prior to providing the receiver withfunds from the money transfer, comparing the receiver's location withthe location identifier from the money transfer identifier to determineif the receiver's location matches the location identified by thelocation identifier.
 3. The method of generating an item-specific moneytransfer identifier as in claim 2, further comprising: in response tothe receiver location matching the location identified by the locationidentifier, providing the funds from the money transfer to the receiver;and in response to the receiver's location not matching the locationidentified by the location identifier, denying the funds from the moneytransfer to the receiver.
 4. The method of generating an item-specificmoney transfer identifier as in claim 1, further comprising receiving,by the money transfer system, from a second sender of a plurality ofsenders, a money transfer request associated with the money transferidentifier.
 5. The method of generating an item-specific money transferidentifier as in claim 4, wherein the money transfer identifiercomprises the first funding identifier and a second funding identifier,wherein the second funding identifier comprises the money transfer fromthe second sender.
 6. The method of generating an item-specific moneytransfer identifier as in claim 1, wherein the securely sending of themoney transfer identifier to the receiver comprises sending the moneytransfer identifier via at least one of near-field communication, textmessage, e-mail, and telephone call.
 7. A non-transitorycomputer-readable medium having sets of instructions for generating anitem-specific money transfer identifier which, when executed by acomputer, cause the computer to: receive, by a money transfer system,from a first sender, identification of an item or a substitute for theitem for purchase, a geographical location of the item or a substitutefor the item, and a money transfer request for an amount of the item ora substitute for the item; pre-stage, by the money transfer system, amoney transfer for the amount of the item or a substitute for the item;generate, by the money transfer system, an identifier for the moneytransfer, wherein the identifier comprises at least one of an itemidentifier identifying the item or a substitute for the item, a locationidentifier identifying the geographical location, and a first fundingidentifier; securely send the identifier to a receiver; receive, by themoney transfer system, from the receiver the identifier; and in responseto receiving the identifier from the receiver, provide the receiver withfunds from the money transfer.
 8. The non-transitory computer-readablemedium for generating an item-specific money transfer identifier as inclaim 7, wherein the sets of instruction when further executed by thecomputer, cause the computer to prior to providing the receiver withfunds from the money transfer, compare the receiver's location with thelocation identifier from the money transfer identifier to determine ifthe receiver's location matches the location identified by the locationidentifier.
 9. The non-transitory computer-readable medium forgenerating an item-specific money transfer identifier as in claim 8,wherein the sets of instruction when further executed by the computer,cause the computer to: in response to the receiver location matching thelocation identified by the location identifier, provide the funds fromthe money transfer to the receiver; and in response to the receiver'slocation not matching the location identified by the locationidentifier, deny the funds from the money transfer to the receiver. 10.The non-transitory computer-readable medium for generating anitem-specific money transfer identifier as in claim 7, wherein the setsof instruction when further executed by the computer, cause the computerto receive, by the money transfer system, from a second sender of aplurality of senders, a money transfer request associated with the moneytransfer identifier.
 11. The non-transitory computer-readable medium forgenerating an item-specific money transfer identifier as in claim 10,wherein the money transfer identifier comprises the first fundingidentifier and a second funding identifier, wherein the second fundingidentifier comprises the money transfer from the second sender.
 12. Thenon-transitory computer-readable medium for generating an item-specificmoney transfer identifier as in claim 7, wherein the securely sending ofthe money transfer identifier to the receiver comprises sending themoney transfer identifier via at least one of near-field communication,text message, e-mail, and telephone call.
 13. A system for generating anitem-specific money transfer identifier, the system comprising: astorage device having sets of instruction stored thereon; and a computerprocessor in communication with the storage device, wherein when thecomputer processor executes the sets of instructions, the computerprocessor is caused to: receive, by a money transfer system, from afirst sender, identification of an item or a substitute for the item forpurchase, a geographical location of the item or a substitute for theitem, and a money transfer request for an amount of the item or asubstitute for the item; pre-stage, by the money transfer system, amoney transfer for the amount of the item or a substitute for the item;generate, by the money transfer system, an identifier for the moneytransfer, wherein the identifier comprises at least one of an itemidentifier identifying the item or a substitute for the item, a locationidentifier identifying the geographical location, and a first fundingidentifier; securely send the identifier to a receiver; receive, by themoney transfer system, from the receiver the identifier; and in responseto receiving the identifier from the receiver, provide the receiver withfunds from the money transfer.
 14. The system for generating anitem-specific money transfer identifier as in claim 13, wherein the setsof instruction when further executed by the computer processor, causethe computer processor to prior to providing the receiver with fundsfrom the money transfer, compare the receiver's location with thelocation identifier from the money transfer identifier to determine ifthe receiver's location matches the location identified by the locationidentifier.
 15. The system for generating an item-specific moneytransfer identifier as in claim 14, wherein the sets of instruction whenfurther executed by the computer processor, cause the computer processorto: in response to the receiver location matching the locationidentified by the location identifier, provide the funds from the moneytransfer to the receiver; and in response to the receiver's location notmatching the location identified by the location identifier, deny thefunds from the money transfer to the receiver.
 16. The system forgenerating an item-specific money transfer identifier as in claim 13,wherein the sets of instruction when further executed by the computerprocessor, cause the computer processor to receive, by the moneytransfer system, from a second sender of a plurality of senders, a moneytransfer request associated with the money transfer identifier.
 17. Thesystem for generating an item-specific money transfer identifier as inclaim 16, wherein the money transfer identifier comprises the firstfunding identifier and a second funding identifier, wherein the secondfunding identifier comprises the money transfer from the second sender.18. The system for generating an item-specific money transfer identifieras in claim 13, wherein the securely sending of the money transferidentifier to the receiver comprises sending the money transferidentifier via at least one of near-field communication, text message,e-mail, and telephone call.